How do you ask your third parties to notify you if they have had a cyber incident? Does your process work efficiently?
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Director of IT in Softwarea month ago
To ensure third parties notify you of cyber incidents, include specific notification requirements in your contracts, detailing the timeframe and method of communication. Define clear incident response procedures within the contract, outlining who should be contacted, what information is needed, and the escalation process. Regularly review and test these procedures with third parties through simulations or drills to ensure understanding and compliance. Additionally, establish monitoring mechanisms to track adherence to notification obligations and address any gaps promptly.Chief Information Technology Officer in IT Services20 days ago
In some cases, our auditors or other concerned parties provide us with reports about our suppliers or third parties. Otherwise, we often receive this information through intermediaries or media.Director of Data in Finance (non-banking)17 days ago
IBM ensures that its third parties notify them of cyber incidents through a combination of contractual obligations, formalised reporting mechanisms and governance frameworks.Here's how it typically works:
Contractual Requirements
IBM includes clear language in contracts with third-party vendors that mandates immediate notification of any cybersecurity incidents. These clauses define the timeframe (usually within 24-72 hours) and the type of incidents that must be reported.
Vendor Risk Management Framework
IBM's Vendor Risk Management (VRM) process includes continuous assessments and audits of third parties. This ensures vendors comply with IBM’s cybersecurity standards and are prepared to report incidents effectively.
Incident Reporting Channels
IBM establishes dedicated channels, such as a secure web portal or direct contact with the IBM Security Operations Center (SOC), where vendors can report incidents swiftly. They may also use standardized formats for easier integration and faster action.
Ongoing Monitoring & Audits
IBM conducts periodic reviews and audits of third-party security practices, ensuring that incident response capabilities are aligned with IBM’s expectations. Automated monitoring tools may also detect anomalies, prompting investigations even before a third party reports an issue.
Efficiency of the Process
IBM’s process for managing third-party notifications of cyber incidents is generally efficient due to its integration of technology and clear processes. However, the efficiency can vary based on factors like:
Vendor Preparedness: If third parties are well-prepared and adhere to IBM’s expectations, the process works smoothly. IBM’s proactive vendor management helps in this regard.
Incident Complexity: For more complex incidents, coordination may take longer, particularly if multiple third parties or regions are involved.
Automated Solutions: IBM’s use of AI and machine learning in its cybersecurity ecosystem helps improve detection and response times, making the process more robust.
Overall, the process is designed to be both proactive and responsive, though constant refinement is necessary to address the evolving cybersecurity landscape.